Intact Investment Management Inc. Sells 6,600 Shares of Visa Inc. (NYSE:V)

Intact Investment Management Inc. cut its stake in Visa Inc. (NYSE:V - Free Report) by 53.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,800 shares of the credit-card processor's stock after selling 6,600 shares during the period. Intact Investment Management Inc.'s holdings in Visa were worth $2,033,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of V. Capital & Planning LLC raised its stake in shares of Visa by 21.2% in the 4th quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor's stock valued at $300,000 after buying an additional 166 shares in the last quarter. Sovereign Investment Advisors LLC acquired a new position in shares of Visa in the 4th quarter valued at $424,000. Brighton Jones LLC raised its stake in shares of Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after buying an additional 6,883 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Visa in the 4th quarter valued at $202,074,000. Finally, Revolve Wealth Partners LLC raised its stake in shares of Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after buying an additional 4,817 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the transaction, the chief executive officer now owns 537 shares of the company's stock, valued at $185,576.46. This trade represents a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel now directly owns 11,925 shares in the company, valued at $4,121,041.50. The trade was a 17.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,098 shares of company stock valued at $36,738,526. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on V shares. BMO Capital Markets increased their price objective on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Truist Financial started coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "buy" rating and a $400.00 price objective for the company. Susquehanna restated a "positive" rating on shares of Visa in a research note on Friday, March 21st. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, The Goldman Sachs Group began coverage on shares of Visa in a research report on Monday, June 2nd. They set a "neutral" rating for the company. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Visa presently has an average rating of "Moderate Buy" and an average target price of $372.80.

Visa Trading Down 0.7%

V opened at $338.04 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $623.73 billion, a PE ratio of 33.97, a PEG ratio of 2.28 and a beta of 0.94. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The firm has a 50-day moving average price of $351.78 and a two-hundred day moving average price of $338.74.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.51 EPS. As a group, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is presently 23.72%.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.

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